'Building a Consumer Focused Culture – What the CBI expects of Leaders' – Address by Grainne McEvoy, Director of Consumer Protection, to Chartered Accountants Ireland Risk Management and Internal Audit Conference

Ms McEvoy spoke about the CBI's supervisory work on behaviour and culture, and its wider implications for risk managers and internal auditors. Ms McEvoy stressed how it is important that leaders lead a culture of honesty, integrity and reliability by setting the correct tone from the top of their organisation. She noted that while the most recent work done in this area relates to banks, it is likely to resonate more widely as the role of culture in delivering organisational transformation is relevant to all leaders – in both the public and private sectors, in financial services and beyond.

EUROPEAN

EBA publishes the preliminary impact of the Basel reforms on EU banks capital and updates on liquidity measures in the EU

The EBA this month has published two reports, which measure the impact of implementing Basel III reforms and monitor the current implementation of liquidity measures in the EU.

EBA acknowledges adoption of amended supervisory reporting standards by the European Commission

The EBA this month has acknowledged the adoption by the European Commission of the Implementing Act amending Regulation (EU) No 680/2014 (Implementing Technical Standards on Supervisory Reporting) with regard to the inclusion of prudent valuation into COREP as well as other amendments.

EBA announces timing for publication for 2018 EU-wide stress test

The EBA has announced that individual results for the banks participating in the 2018 EU-wide stress test, along with detailed balance sheets and exposure data as of end 2017, will be published on Friday 2 November 2018.

Speech by Sabine Lautenschläger: Ten years after crisis – risks, rules and supervision

Ms Lautenschläger, Member of the Executive Board of the European Central Bank (ECB) and Vice-Chair of the Supervisory Board of the ECB, discussed the question of how we can prevent such crises in the future and whether ten years on, things have changed and are our banks now better regulated and supervised and risks are under control. Ms Lautenschläger, spoke about how that for some time now, banks have been operating in a special environment of loose monetary policy, low interest rates and solid economic growth and stressed that this environment could suddenly change. It is, therefore, imperative that banks are pricing risks correctly and cleaning up their balance sheets to prepare for a change of circumstances.

Interview with Benoît Cœuré, Member of the Executive Board of the ECB, conducted by Carla Neuhaus

Mr Cœuré answered a number of questions concerning possible future crises and discussed whether we are learning from the mistakes made in the last financial crises in the wake of the 10 year anniversary of the collapse of Lehmann Brothers.

EBA Stance on the Risk Reduction Measures Package

Andrea Enria, Chairperson of the EBA, has provided feedback to the Trilogue (of the Commission, Council and European Parliament) on the draft revised Capital Requirement Regulation (CRR2), the Capital Requirement Directive (CRD5) and the Bank Recovery and Resolution Directive (BRRD2), including comments on the suggested amendments to the legislative texts as well as comment on the proposed EBA mandates.